South Florida Business Journal by Brian Bandell, Senior Reporter
Pharmaceutical manufacturer BioRamo qualified for $108,000 in state and city incentives to create 36 jobs in Fort Lauderdale.
The Greater Fort Lauderdale Alliance and Enterprise Florida worked with the startup company to secure its $1.5 million investment in the renovation of the facility at 5319 N.W. 35th Terrace. That’s where the company will manufacture over-the-counter and prescription liquid and semi-solid products.
“While choosing a location for any business is never without difficulties and contention, our decision was definitely made less problematic by the open line of communication and support for new and expanding businesses provided by the City of Fort Lauderdale and the Greater Fort Lauderdale Alliance / Broward County,” BioRamo CEO John Copanos stated in a news release. “When taking into respect the top notch quality of life in Fort Lauderdale, coupled with the city’s access to direct air travel and the proximity of Port Everglades, both of which provide a gateway to Latin America, the decision becomes not only less problematic, but totally unanimous.”
The average salary for the 36 new jobs will be $48,690. Should the company maintain those jobs for six years, it would collect the full $108,000 from the Qualified Target Industries program. Fort Lauderdale would contribute $21,600 of that, with the state providing the rest. BioRamo also qualified for the Employed Worker Training program and Work Opportunities Tax Credits.